Board Agenda for the month of August

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**PLEASE NOTE: DEADLINE FOR PUBLIC COMMENT IS ON THURSDAY,

September 12 at 5:00 PM**

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Special Meeting (Budget) September 2013 Agenda

Description

TABLE OF CONTENTS

I

ACTION ITEMS

A. Public Hearing on SFCCD Proposed Final Budget

On August 27th at 3PM, the college conducted a public hearing on the proposed final budget for fiscal year 2013-14. The session was led by Vice Chancellor Peter Goldstein who used several handouts and power point slides. During the course of the meeting members of the public were given numerous opportunities to comment and to ask questions. As presented the college’s operating budget was shown to be balanced with all known costs built in, and conservative assumptions regarding revenue. Most important, the budget brought the Board Designated Reserve to $10M, slightly above the five percent threshold the State Chancellor advises districts to maintain.

The operating budget also had a projected surplus of about $2M. The Vice Chancellor advised that any surplus funds were still subject to final budget reconciliations and that it was too soon to spend the projected surplus. The Vice Chancellor also explained that the college had a modest closeout from fiscal year 2012-13 rolling forward into fiscal year 2013-14, about $500,000. He further explained that this closeout assumed a 1.0 % statewide “deficit factor” for fiscal year 2012-13, but that the final deficit factor was not yet determined by the State Chancellor’s Office. Finally, the Vice Chancellor pointed out in a set of exhibits that the allocation of additional resources to college departments in the fiscal year 2013-14 budget was based on the results of program review, and that the first twenty seven items received funding. These items were ranked in priority order by the Vice Chancellors and approved by the Chancellor.